Egypt rolls out $1 billion for oil exploration in Western Desert Egyptian companies are planning more than $1 billion in investments in the oil and natural gas sector in the Western Desert region. One of the reasons why Egypt has not developed all the oil fields it could in its Western Desert is that land has to be cleared of mines left over from World War I and World II. Here, British tanks move up to the battle of El Alamein in the fall of 1942 to engage German armor after the infantry had cleared gaps in the German minefield. - UK Government
Egypt rolls out $1 billion for oil exploration in Western Sahara al-monitor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from al-monitor.com Daily Mail and Mail on Sunday newspapers.
Dana Gas board has decided to retain and operate assets in Egypt alongside the offshore Block 6, the statement added.
The $236m binding agreement with IPR Wastani Petroleum, a part of IPR Energy Group, also included contingent payments, Dana Gas said in a statement to the ADX at the time.
Dana Gas expected the transaction, which was subject to the Egyptian Ministry of Petroleum and Mineral Resources’ approval, to be completed early this year, it said in it s October 25 statement.
The impact on Dana Gas finances from the cancellation of the sale is still being assessed, the company said.
However, the company said there could be positive consequences on its profitability and balance sheet as well as improvement in cashflow over the coming years.
April 24, 2021 at 11:13 am | Published in: Africa, Egypt, News
A worker gesturing for cars to move as others fill up a at a petrol station in Cairo, Egypt on June 29, 2017 [KHALED DESOUKI/Getty Images] April 24, 2021 at 11:13 am
The Egyptian Ministry of Petroleum and Mineral Resources on Friday announced the rise in price of all three types of fuel by 4 per cent, while fixing diesel prices for the period between April and June.
The ministry announced in a statement that the new prices went into effect as of 10 a.m. on Friday morning (8:00 GMT).
The price of 95 octane gasoline, the most commonly used type of fuel in the country, increased by 25 piastres (a 3 per cent rise) to reach 8.75 Egyptian pounds per litre (56 US cents), compared to 8.5 Egyptian pounds (54 cents) previously.Meanwhile, the price of 92 octane petrol rose by 25 piastres, or 3.3 per cent, to 7.75 Egyptian pounds (49 cents) per litre, from 7.50 Egyptian pounds (48 cents).